Notice2023-13492
Agency Information Collection Activities; Submission for OMB Review; Comment Request; Emergency Capital Investment Program
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
June 26, 2023
Issuing agencies
Treasury Department
Abstract
The Department of the Treasury will submit the following information collection requests to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995, on or after the date of publication of this notice. The public is invited to submit comments on these requests.
Full Text
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<title>Federal Register, Volume 88 Issue 121 (Monday, June 26, 2023)</title>
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[Federal Register Volume 88, Number 121 (Monday, June 26, 2023)]
[Notices]
[Pages 41465-41466]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-13492]
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DEPARTMENT OF THE TREASURY
Agency Information Collection Activities; Submission for OMB
Review; Comment Request; Emergency Capital Investment Program
AGENCY: Departmental Offices, U.S. Department of the Treasury.
ACTION: Notice.
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SUMMARY: The Department of the Treasury will submit the following
information collection requests to the Office of Management and Budget
(OMB) for review and clearance in accordance with the Paperwork
Reduction Act of 1995, on or after the date of publication of this
notice. The public is invited to submit comments on these requests.
DATES: Comments should be received on or before July 26, 2023 to be
assured of consideration.
ADDRESSES: Written comments and recommendations for the proposed
information collection should be sent within 30 days of publication of
this notice to <a href="http://www.reginfo.gov/public/do/PRAMain">www.reginfo.gov/public/do/PRAMain</a>. Find this particular
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function. Copies of
the submissions may be obtained from Melody Braswell by emailing
<a href="/cdn-cgi/l/email-protection#29797b68695d5b4c485a5c5b50074e465f"><span class="__cf_email__" data-cfemail="0c5c5e4d4c787e696d7f797e75226b637a">[email protected]</span></a>, calling (202) 622-1035, or viewing the entire
information collection request at <a href="http://www.reginfo.gov">www.reginfo.gov</a>.
SUPPLEMENTARY INFORMATION:
Title: Emergency Capital Investment Program.
OMB Control Number:1505-0267.
Type of Review: Extension of a currently approved collection.
Description: The Consolidated Appropriations Act, 2021, signed into
law on December 27, 2020, added section 104A of the Community
Development Banking and Financial Institutions Act of 1994 (the
``Act''). Section 104A authorizes the Secretary of the Treasury to
establish the Emergency Capital Investment Program (Program) to support
the efforts of low- and moderate-income community financial
institutions to, among other things, provide loans, grants, and
forbearance for small businesses, minority-owned businesses, and
consumers, especially in low-income and underserved communities,
including persistent poverty counties, that may be disproportionately
impacted by the economic effects of the COVID-19 pandemic by providing
direct and indirect capital investments in low-and moderate-income
community financial institutions.
Applications, a state regulator response form, and eligible
applicant intent to participate form were previously approved under OMB
Control Number 1505-0267. Following review of the applications,
Treasury will enter into letter agreements (agreements) with
participating financial institutions. These agreements contain
standardized information collection necessary for the legal closing
process. The agreements collect information from applicants in two
general categories: (1) administrative information needed to
[[Page 41466]]
facilitate payments and notifications and (2) disclosures to Treasury
(e.g. litigation or exceptions to representations and warranties).
Participants are the only parties that can provide information of this
type to Treasury. Treasury will publish this form on the Treasury
website. Based on this publication, Treasury will provide an
opportunity for eligible applicants to review the terms and conditions
of the investments prior to indicating to Treasury whether the
institution intends to participate in the Program.
Form Name: Letter Agreements; Applicant Notification Letter.
Affected Public: Private sector, businesses or other for-profits,
non-profit institutions.
Estimated Number of Respondents: 372 respondents.
Frequency of Response: Once, annually.
Estimated Total Number of Annual Responses: 372 total responses
(186 annual responses to Letter Agreements; 186 annual responses to
Applicant Notification Letter).
Estimated Time per Response: 8 hours annually for Letter
Agreements; 15 minutes for response to Applicant Notification Letter.
Estimated Total Annual Burden Hours: 1,535 hours.
Request for Comments: Comments submitted in response to this notice
will be summarized and included in the request for Office of Management
and Budget approval. All comments will become a matter of public
record. Comments are invited on: (a) whether the collection of
information is necessary for the proper performance of the functions of
the agency, including whether the information shall have practical
utility; (b) the accuracy of the agency's estimate of the burden of the
collection of information; (c) ways to enhance the quality, utility,
and clarity of the information to be collected; (d) ways to minimize
the burden of the collection of information on respondents, including
through the use of technology; and (e) estimates of capital or start-up
costs and costs of operation, maintenance, and purchase of services
required to provide information.
Authority: 44 U.S.C. 3501 et seq.
Spencer W. Clark,
Treasury PRA Clearance Officer.
[FR Doc. 2023-13492 Filed 6-23-23; 8:45 am]
BILLING CODE 4810-ak-P
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